Problem: Given that
\[2^{-\frac{3}{2} + 2 \cos \theta} + 1 = 2^{\frac{1}{4} + \cos \theta},\]compute $\cos 2 \theta.$
Explanation: Let $x = 2^{\cos \theta}.$  Then the given equation becomes
\[2^{-\frac{3}{2}} x^2 + 1 = 2^{\frac{1}{4}} x.\]We can re-write this as
\[2^{-\frac{3}{2}} x^2 - 2^{\frac{1}{4}} x + 1 = 0.\]Since $2^{-\frac{3}{2}} = (2^{-\frac{3}{4}})^2$ and $2^{\frac{1}{4}} = 2 \cdot 2^{-\frac{3}{4}},$ this quadratic factors as
\[(2^{-\frac{3}{4}} x - 1)^2 = 0.\]Then $2^{-\frac{3}{4}} x = 1,$ so $x = 2^{\frac{3}{4}}.$  Hence,
\[\cos \theta = \frac{3}{4},\]so $\cos 2 \theta = 2 \cos^2 \theta - 1 = 2 \left( \frac{3}{4} \right)^2 - 1 = \boxed{\frac{1}{8}}.$